ASX 200 Hits 100-Day Low
The S&P/ASX 200 closed 0.48% lower on Thursday, losing 37.10 points to end at 7,749.10. This marked the index’s lowest level in 100 days. Over the past five trading sessions, the ASX 200 has fallen 4.27%. The index is down 0.25% over the past 12 months.
The All Ordinaries index dropped 36 points, or 0.45%, finishing at 7,966.60. The technology-heavy All Technology Index declined 0.26%, closing at 3,441.50.
Figure 1: ASX 200 Chart
Sector Performance
Most ASX sectors recorded losses. The real estate sector saw a marginal gain of 0.04% but ended down 0.05%. Industrials fell 0.05%, while information technology declined 0.35%. The materials sector dropped 0.49%, and telecommunications lost 0.53%. Energy stocks decreased by 0.55%, while utilities fell 0.61%. Health care stocks declined 0.64%, and financials dropped 0.68%. Consumer discretionary stocks saw the largest decline, falling 0.94%.
The ASX All Ordinaries Gold Index rose 3.50% to 10,171.60, supported by strong gold prices. The ASX Small Ordinaries Index gained 0.17% to 2,964.80.
Top Gainers
The best-performing stocks included:
- Hutchison Telecommunications (HTA): +13.64%
- Novonix Ltd (NVX): +10.35%
- Syrah Resources (SYR): +10.20%
- Ora Banda Mining (OBM): +9.95%
- Canyon Resources (CAY): +9.30%
Gold miners posted strong gains as investors sought safe-haven assets. Westgold Resources rose 8.20%, while Bellevue Gold advanced 6.25%.
Biggest Decliners
The worst-performing stocks included:
- Yancoal Australia (YAL): -12.98%
- McMillan Shakespeare (MMS): -7.90%
- New Hope Corporation (NHC): -7.72%
- Inghams Group (ING): -7.30%
- Regal Partners (RPL): -5.74%
Coal stocks declined amid falling global coal prices. Whitehaven Coal dropped 5.53%, while Coronado Global Resources lost 5.51%.
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Commodities Market
Gold prices rose 0.21% to $2,953.10 per ounce. Silver dropped 0.14% to $33.70 per ounce. Brent crude declined 0.07% to $70.90 per barrel, while WTI crude fell 0.16% to $67.57 per barrel. Copper prices declined 0.16% to $4.84 per pound, reflecting concerns over global demand.
Foreign Exchange
The Australian dollar weakened against major currencies. It fell 0.16% against the US dollar, closing at US$0.6311. Against the euro, it declined 0.18% to €0.5795. The Australian dollar also dropped 0.14% against the British pound and 0.39% against the Japanese yen.
The Australian dollar fell 0.33% against the Indonesian rupiah, trading at 10,357.40 rupiah per AUD. It declined 0.15% against the Chinese yuan, reaching 4.5684 yuan per AUD. The Australian dollar also weakened 0.21% against the Singapore dollar, trading at 0.8407.
The exchange rate against the Swiss franc declined 0.20% to 0.5563 francs per AUD. Against the Thai baht, the Australian dollar fell 0.28% to 21.3190 baht. The currency weakened 0.12% against the Hong Kong dollar, settling at 4.9045.
Global Markets
The US markets showed mixed results. The Dow Jones Industrial Average fell 0.20% to 41,350.93. The Nasdaq Composite rose 1.22% to 17,648.45. The S&P 500 gained 0.49% to 5,599.30.
Asian markets closed mostly lower. The Shanghai Composite Index fell 0.23%, while the Hang Seng Index dropped 0.76%. Japan’s Nikkei 225 edged up 0.07% to 36,819.09.
Dividend Announcements
Several ASX-listed companies declared dividends:
- Yancoal Australia (YAL): $0.52 per share (final)
- com Ltd (KGN): $0.07 per share (interim)
- Regis Healthcare Ltd (REG): $0.0809 per share (interim)
Investors focused on dividend-paying stocks as earnings season progressed. Yancoal’s dividend announcement followed its share price decline, highlighting volatility in the resources sector.
IPO Watch
Upcoming ASX listings include:
- Marimaca Copper Corp. (MC2): Expected listing on 13 March 2025, with a $6.00 issue price
- Burrendong Minerals Limited (BIG): Listing scheduled for 9 April 2025, raising $6 million
- Stormeur Ltd (STR): Listing on 3 June 2025, targeting $7 million
The ASX market remains under pressure, with resource stocks leading losses. Investors will closely watch upcoming economic data for market direction. Analysts expect inflation reports and central bank decisions to influence sentiment in the coming weeks.
